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Pradhan Mantri Fasal Bima Yojana: Now farmers will have silver, not a single penny will be charged, the government will pay this year’s premium

The Government of Meghalaya is providing premium assistance to farmers to the extent of 100 per cent on both Rabi and Kharif crops. The government has made this announcement for the Pradhan Mantri Fasal Bima Yojana for the year 2023-24.

New Delhi. The Meghalaya government is looking completely kind to the farmers. The state government is giving premium assistance to farmers on both Rabi and Kharif crops to the extent of 100 per cent. The government has made this announcement for the Pradhan Mantri Fasal Bima Yojana for the year 2023-24. The scheme has been implemented for all farmers of the state, who are growing notified crops up to 1 acre per crop per farmer in the notified areas.

Under the leadership of the Chief Minister of the state, the state government is trying to prepare a strategy with all farmer centric approach so that the risk of crop damage can be reduced. To reduce the risk of the farmer, it has also been decided to provide free premium assistance in support of the farmers. During the financial year 2023-24, covering the crops of both Kharif and Rabi seasons, the state government will pay 100 percent of the premium amount of 4.4 crores to the farmers.

Please tell that 80 percent of the population of Meghalaya is dependent on agriculture. Pradhan Mantri Fasal Bima Yojana was implemented in Meghalaya with effect from Kharif 2016. The purpose behind implementing this was to provide financial assistance to the farmers suffering from crop damage due to unforeseen natural calamities and incidents. Under this scheme, the farmer is paid a premium of 2 per cent for Kharif crops, 1.5 per cent for Rabi crops and 5 per cent for horticulture crops.

Meghalaya’s Agriculture and Farmers Welfare Department said in a statement that the state government has taken this decision to reduce the risk of farmers’ income in case of crop failure. Under this, to support the farmers of the state, the Government of Meghalaya has decided to provide free premium assistance of Rs 4.4 crore covering both Kharif and Rabi seasons during FY24.

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Bhupendra Pratap
Bhupendra Pratap
Bhupendra Pratap has over 3 years of experience in writing finance content, entertainment news, cricket and more. He has done BA in English. He loves to Play Sports and read books in free time. In case of any complain or feedback, please contact me @insuranceindiaain@gmail.com
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